Strait of Hormuz reopens after US-Iran peace deal: Oil flows resume, what it means for crude prices
New Delhi, June 18 -- The Strait of Hormuz, one of the world's most important energy chokepoints, is gradually reopening after an interim peace agreement between the United States and Iran. The move has allowed oil and gas tankers to resume transit, easing concerns about global energy supplies.
The reopening was triggered by an interim US-Iran agreement under which Tehran pledged to restore shipping through the Strait of Hormuz to pre-conflict levels within 30 days.
Key steps included:
-Iran easing restrictions on maritime traffic.
-The US lifting its blockade on Iranian ports.
-The Joint Maritime Information Center lowering the threat level from "severe" to "substantial."
-Stranded tankers beginning to leave the Persian Gulf.
-Sau...
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